In a March 6 news article headline, Bloomberg referred to the "Obama Bear Market," and The Wall Street Journal ran an op-ed on the same day with the headline "Obama's Radicalism is Killing the Dow." In fact, the market has been on a decline since October 2007, and, as the Financial Times' Dan McCrum said, "it's the economy which is driving the market down here" and that "what's important is that President Obama doesn't try to address that in the short term. He's quite right that short-term market movements aren't -- shouldn't be driving government policy. What he needs to do is concentrate on fixing the economy, and the market will sort itself out."
Bloomberg columnist Caroline Baum asserted that "[a]s the ranking member of the House Financial Services Committee," before he became chairman in 2007, Rep. Barney Frank "consistently opposed stricter regulation of Fannie Mae and Freddie Mac." In fact, Frank has supported legislation to strengthen oversight over Fannie and Freddie, both as ranking member and as chairman. Further, Frank advocated for "a bill that would have enhanced the regulatory structure for Fannie Mae and Freddie Mac" during a hearing from which Baum quoted in the column.
Bloomberg uncritically quoted Sen. Mitch McConnell criticizing the economic recovery plan as being neither "timely, targeted nor temporary," but did not point out that McConnell voted in support of a proposed amendment by Sen. Jim DeMint that would replace the recovery bill entirely with permanent tax cuts, some of which DeMint has called "broad based."
The Wall Street Journal's Stephen Moore and Fox News anchors Bill Hemmer and Megyn Kelly promoted the falsehood -- which first appeared in a Bloomberg "commentary" by Betsy McCaughey and was subsequently promoted by Rush Limbaugh and Matt Drudge -- that the economic recovery bill includes a provision that would, in Moore's words, "hav[e] the government essentially dictate treatments." Limbaugh later took credit for spreading this story.
Rush Limbaugh repeated a falsehood in a Bloomberg "commentary" by Betsy McCaughey that claimed that under a provision in the House-passed economic recovery bill, "[o]ne new bureaucracy, the National Coordinator of Health Information Technology, will monitor treatments to make sure your doctor is doing what the federal government deems appropriate and cost effective. The goal is to reduce costs and 'guide' your doctor's decisions." In fact, the provisions McCaughey referenced address establishing an electronic records system such that doctors would have information about their patients "to help guide medical decisions at the time and place of care."
In a Bloomberg News article headlined "Obama Faces Rebellion From Democrats on Stimulus, Nominations," the only evidence cited in the article of "rebellion from Democrats" on President-elect Obama's "nominations" was that Sen. Dianne Feinstein "said she hadn't been consulted on the pick" of Leon Panetta for CIA director "and preferred a CIA director with more experience in intelligence," and that Rep. John Conyers "took aim at reports that Obama is considering naming CNN reporter Sanjay Gupta as surgeon general." In fact, Feinstein reportedly stated that she was "going to vote for" Panetta. And as a member of the House of Representatives, Conyers will not have a vote on Gupta's confirmation.
On Hardball, Chris Matthews cited a Politico article as purported evidence that "zero -- count 'em, zero Southerners have been named to the Obama Cabinet so far," and a Bloomberg article similarly asserted that Obama's Cabinet is lacking in Southerners. These claims either ignore or discount Obama's selection of Lisa Jackson, Hillary Clinton, and Robert Gates.
The Boston Globe uncritically reported Sen. John McCain's false claim that Sen. Barack Obama proposes to "fine" small businesses that do not provide employee health insurance. While Obama has proposed requiring large businesses that do not provide employer-sponsored health coverage to pay a percentage of their payroll into a National Health Insurance Exchange to help Americans purchase private health insurance, small businesses would be exempt.
The AP reported that Sen. John McCain "won admiration from Hispanics -- for co-sponsoring an immigration bill that included a path to citizenship" while a Bloomberg article reported that McCain "bucked his party by pushing a path to citizenship for illegal immigrants." However, neither article noted that McCain reversed himself on border security and said he would no longer support the bill he co-sponsored with Sen. Edward Kennedy if it came up for a vote in the Senate.
In reports on Gov. Sarah Palin's acceptance speech at the RNC, the AP and Bloomberg both reported her accusation that Sen. Barack Obama "wants to raise taxes," without noting that, in fact, Obama has proposed cutting taxes for low- and middle-income families and raising them only on households earning more than $250,000 per year.
Numerous media outlets quoted or aired all or part of a statement Sen. John McCain made criticizing Sen. Barack Obama for giving a "political speech" in Berlin while "a candidate for the office of the presidency," but none noted that McCain himself gave a "political speech" in a foreign country last month, speaking to the Economic Club of Toronto in Ottawa, Canada, on a trip paid for by his presidential campaign.
The Hill and Bloomberg News uncritically reported Sen. John McCain's false suggestion in a June 10 speech that Sen. Barack Obama plans to raise taxes on 21.6 million small businesses that file taxes under the individual income tax. However, Obama has proposed rolling back the Bush tax cuts only on "people who are making 250,000 dollars a year or more," and according to the nonpartisan Tax Policy Center, only 481,000 small businesses fall into the tax brackets that would be affected by those increases.
Bloomberg reported attacks by Sen. John McCain and a Republican strategist on Sen. Barack Obama on the issue of public financing in the general election. But while the headline asserted that Obama "Risks 'Pristine' Image" over public financing, and the article said that "Obama and McCain are vying to be seen as reformers," Bloomberg did not report other facts that detract from McCain's reported efforts "to be seen as" a "reformer."
A Bloomberg article noted that Sen. John McCain "has pledged to take public financing [for the general election presidential campaign] if the Democrat does. His campaign noted that [Sen. Barack] Obama 'promised the American people' he would take public financing," then quoted a McCain adviser as saying, "Senator McCain isn't in the habit of breaking his word, and he hopes Senator Obama doesn't either." The article did not report that McCain could be breaking federal law for failing to abide by restrictions placed on candidates participating in the public financing system during their party's primary season.
Margaret Carlson falsely claimed of Sen. Hillary Clinton, "Everyone responsible for bringing peace to Northern Ireland is on the record saying her claim to involvement there is complete fiction." In fact, several figures involved in "bringing peace to Northern Ireland" -- including former Sen. George Mitchell, U.S. special envoy to Northern Ireland and former Social Democratic and Labour Party leader John Hume -- have reportedly stated that Clinton played a role in the peace process.